A new roof might not be the first thing you think of when you are considering what improvements to make to increase the value of your home. But according to a survey by Remodeling Magazine, a new roof can increase the resale value of your home by 60% to 70%. But the increased resale value isn’t the only way a new roof can make your home more valuable. Below we outline four ways that a new roof can increase the value of your home.
In the past, standard warranties for asphalt shingles lasted 15-20 years. Now, most brands (like Certainteed or Davinci) offer limited lifetime warranties on their products. Plus, when you choose to have your roof installed with us, you also receive a 10 year workmanship warranty. The longer warranty will raise your home value as its coverage is extended for a longer period of time.
The Cool Roof Rating Council (CRRC) estimates the average energy savings for reflective shingles to be between 7% and 15% of cooling costs. By choosing a new roof with Energy Star-rated shingles like Davinici Cool Roof tiles, you can reduce your cooling costs because the technology is designed to reflect more solar heat. This is especially valuable to homeowners in Nebraska because of our long, hot summers. By choosing a sustainable roof, you’ll increase your home’s value while also reducing annual maintenance costs.
A new asphalt roof can add a fresh style and increased durability to your home. If you’re looking for even more curb appeal, you could also consider wood shake, slate, or tile roofing. Any of these options are sure to increase your home’s aesthetic appearance (and thus, its value) while also strengthening its endurance against the elements.
Increased Resale Value
According to Remodeling Magazine’s 2019 Cost vs. Value Report, installing a new roof can increase the value of your home by almost $12,000. Based on the new roof you select, not only are you likely to break even but you might also double your return on investment with a higher home valuation.
Additionally, if you’re looking for ways to reduce your mortgage payment, a new roof could help. If you’re currently paying for private mortgage insurance, getting a new roof could increase the value of your home. This would allow you to cancel the private mortgage insurance ahead of schedule. Generally, if your remaining loan amount is no more than 80% of your home’s appraised value, the private mortgage insurance will be canceled, lowering your monthly mortgage payments.
Ready to increase your home’s value with a new roof? Fill out the contact form on our website to schedule your free consultation and estimate.